Digital wallets will approach half of POS transaction value share by 2027

Key stat: Digital wallets will be the only payment type to increase its share of worldwide point-of-sale transaction value between 2023 and 2027, making up 46% of total value by the end of that time period, according to a March 2024 report from Worldpay.

Beyond the chart:

• Over half (56.9%) of the US population will use digital wallets this year, totaling 161.6 million users, per our forecast.
• Apple Wallet is the most popular digital wallet, used by nearly half (49.0%) of all mobile wallet users in the US, followed by Google Wallet (30.1%) and Samsung Wallet (12.9%).
• Consumers who use digital wallets spend 31% more than non-users, per a November 2023 survey from PYMNTS and AWS.

Use this chart:

• Assess point-of-sale capabilities.
• Illustrate consumer trends in payment methods.

More like this:

• Consumers spend more with digital wallets
• Online retailers need to respond to Gen Z’s love of Apple Pay
• Mobile wallets are used most at in-person events
• Smart carts, mobile checkout, and biometric data could solve retail’s in-store point-of-sale challenges